Cookson Peirce & Co. Inc. Reduces Stake in Coterra Energy Inc. (NYSE:CTRA)

Cookson Peirce & Co. Inc. trimmed its stake in Coterra Energy Inc. (NYSE:CTRA) by 67.6% during the fourth quarter, Holdings Channel reports. The fund owned 24,987 shares of the company’s stock after selling 52,041 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Coterra Energy were worth $638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRA. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Coterra Energy in the first quarter valued at approximately $1,267,000. D.A. Davidson & CO. bought a new stake in shares of Coterra Energy in the first quarter valued at approximately $305,000. Yousif Capital Management LLC bought a new stake in shares of Coterra Energy in the first quarter valued at approximately $3,011,000. Raymond James Trust N.A. bought a new stake in Coterra Energy during the 1st quarter worth approximately $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in Coterra Energy during the 1st quarter worth approximately $3,218,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays assumed coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price on the stock. Stephens reaffirmed an “overweight” rating and set a $39.00 target price on shares of Coterra Energy in a report on Tuesday, January 23rd. Susquehanna raised shares of Coterra Energy from a “neutral” rating to a “positive” rating and decreased their price target for the stock from $31.00 to $30.00 in a report on Friday, January 26th. JPMorgan Chase & Co. increased their price target on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Piper Sandler increased their price target on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.00.

Coterra Energy Stock Performance

Shares of CTRA opened at $27.19 on Wednesday. The stock has a market capitalization of $20.44 billion, a P/E ratio of 12.71 and a beta of 0.21. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $26.47 and a two-hundred day simple moving average of $26.36. Coterra Energy Inc. has a twelve month low of $22.91 and a twelve month high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, research analysts anticipate that Coterra Energy Inc. will post 1.92 EPS for the current year.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 3.09%. Coterra Energy’s dividend payout ratio is 39.25%.

Insiders Place Their Bets

In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.